Question

Filipe runs a small beach hotel in the Florida Panhandle. He has owned and operated the hotel for nearly 30 years, and while the business hasn't failed, it hasn't found great success either. Felipe has never paid attention to industry trends or used them to shape his strategic plan. What is Felipe most likely missing?

1) Knowledge of customer preferences
2) Marketing strategies
3) Financial management skills
4) Competitive analysis

Answer 1

Felipe is most likely missing competitive analysis, marketing strategies, and financial management skills in his strategic planning for his beach hotel.

Step-by-step explanation:

Felipe is most likely missing Competitive analysis in his strategic planning for his beach hotel. By not paying attention to industry trends, Felipe is unaware of what his competitors are doing and how he can differentiate his business from them. Competitive analysis helps businesses understand their position in the market, identify potential threats, and capitalize on opportunities.

Furthermore, Felipe may also be missing Marketing strategies. Without understanding customer preferences and market trends, he cannot effectively promote his hotel's unique features and attract more guests. Implementing targeted marketing strategies can help him reach his target audience and increase hotel bookings.

Lastly, Felipe may also be lacking Financial management skills. Even with a well-thought-out strategic plan, if he does not have the knowledge and skills to effectively manage his finances, he may struggle to make the necessary investments and optimize his profitability.